Market Review for KLCI:
The FBM KLCI index gained 11.97 points or 0.72% on Monday. The Finance Index increased 0.68% to 14283.49 points, the Properties Index dropped 0.05% to 1159.92 points and the Plantation Index rose 0.41% to 7593.3 points. The market fluctuated between a high of 1666 and low of 1656 throughout the trading session on Thursday. The KLCI started the week on a positive note, closing higher at 1665.23 points despite mixed performance in Wall Street on last Friday. The performance of our local bourse was buoyed by bargain-hunting.
Market forecast for KLCI:
The FBMKLCI opened at the level of 1657 on Monday and closed in the green at level of 1665. The trading session on Monday saw a low of 1656; The market traded within a range of 9.95 points between an intra-day high of 1666.50 and a low of 1656.55 during the session.
Market continued giving consolidation in today’s trading session. Market is expected to test the resistance level of 1668 and if it breaches this level it might go up till the level of 1676. On the other side of the market if it test the support level of 1653 it might further go down to the level of 1643.
The FBM KLCI index gained 11.97 points or 0.72% on Monday. The Finance Index increased 0.68% to 14283.49 points, the Properties Index dropped 0.05% to 1159.92 points and the Plantation Index rose 0.41% to 7593.3 points. The market fluctuated between a high of 1666 and low of 1656 throughout the trading session on Thursday. The KLCI started the week on a positive note, closing higher at 1665.23 points despite mixed performance in Wall Street on last Friday. The performance of our local bourse was buoyed by bargain-hunting.
Market forecast for KLCI:
The FBMKLCI opened at the level of 1657 on Monday and closed in the green at level of 1665. The trading session on Monday saw a low of 1656; The market traded within a range of 9.95 points between an intra-day high of 1666.50 and a low of 1656.55 during the session.
Market continued giving consolidation in today’s trading session. Market is expected to test the resistance level of 1668 and if it breaches this level it might go up till the level of 1676. On the other side of the market if it test the support level of 1653 it might further go down to the level of 1643.
KLCI COUNTER SPECIFIC NEWS:
- Censof Holdings Bhd’s external auditor Messrs Crowe Horwath has expressed a qualified opinion in the company’s audited financial statements for the financial year ended March 31, 2016, on the RM6.7 million owed by its contract customers.
- Maybank Ageas Holdings Bhd, the insurance arm of Maybank Group and the country's fourth largest insurer, aims to double its size by 2020 and has not ruled out acquiring other insurers to boost its ranking in Malaysia, its CEO Kamaludin Ahmad said.
- AirAsia Bhd’s data science unit MadCience Consulting Sdn Bhd has entered into an agreement with Scotland’s Big Data For Humans Ltd (Bd4h) to set up a data analytics joint venture (JV) in Asia Pacific.The JV will be responsible for building a software-as-a-service business in the region, with its first client being AirAsia.
- Berjaya China Motor Sdn Bhd, which rolled out the completely knocked down (CKD) version of the Chana Era Star II last week, aims to sell 700 units of the model this year.
- WZ Satu Bhd has accepted a letter of award worth RM27.03 million from Shell MDS (Malaysia) Sdn Bhd.
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